Sunkar Resources said it had received the first chunk of its payment for work on a new railway line in Kazakhstan.
Last week the firm announced its subsidiary, Temir Service, had signed an earth moving contract for the new railway line.
The contract is worth KZT1.2bn - around $8.1m - and the company has now received its first payment, equivalent to 30% of the contract.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
The prepayment of KZT 361m, is worth around $2.4m at current exchange rates.
The work is scheduled to be completed during the second quarter of 2013 and the company expects the revenue to make a significant contribution to the working capital of the company.
Sunkar is hopeful the deal will mean it can retain core qualified personnel for next year's mining season.
Lloyds, Halifax and Bank of Scotland to shut another 45 branches
Lloyds Banking Group, which includes Halifax and Bank of Scotland, is set to close a further 45 branches in 2024 - find out if a branch near you is closing.
By Vaishali Varu Published
US stock trading app Robinhood launches in the UK
The low-cost trading platform has opened another waiting list for British investors - following two failed attempts to launch in this country - and is hoping to be fully operational next year.
By Ruth Emery Published